HOME entertainment company Quickflix made a belated debut on the Australian Stock Exchange this week, listing at a 25 per cent discount to its offer price of 20 cents. About 670,000 shares in Quickflix changed hands on its first day, closing at 13 cents.
The online DVD home rental specialist will use the $3 million raised from the float to expand its DVD library and open more distribution centres.
Quickflix had planned to list earlier but was delayed because of weaknesses in the mid-capitalisation sector, according to chief executive Stephen Langsford.
“At the end of the day, I’m a significant shareholder, and I want investors to know I’m in it for the long haul.”
© Business News 2017. You may share content using the tools provided but do not copy and redistribute.